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S4025Senate2009-2010 Session

Relates to the redemption of tax foreclosed real property by certain military members

Sponsor Brian X. FoleySD-3+3 co-sponsorsAffects Local Government
Status
In Senate Committee
Veterans, Homeland Security And Military Affairs
Impact
Pending
Passage
Pending

Bill progress

Step 2 of 7

In committee · Veterans, Homeland Security And Military Affairs

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Who cares

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Sponsors

Primary sponsor
Brian X. Foley

Senator · Senate District 3

History

  1. Referred to veterans, homeland security and military affairs
  2. Committed to rules
  3. Amended on third reading 4025c
  4. Amended on third reading 4025b
  5. Advanced to third reading
  6. Amended (t) 4025a
  7. 2nd report cal.
  8. 1st report cal.329
  9. Referred to veterans, homeland security and military affairs

Full text

The text isn't available here yet. Check nysenate.gov.

Sponsor's memo

Title of bill

An act to amend the real property tax law, in relation to redemption of certain property owned by persons deployed by the United States military

Purpose

This bill would allow a municipality to waive fees, interest and penalties for the redemption of foreclosed residential real estate caused by financial hardship as a result of military activation.

Summary of specific provisions

Section 1: Amends the real property law to allowing a municipality to permit an owner of foreclosed residential real estate to redeem such real estate without interest, penalties and fees providing the foreclosure was a result of financial hardship caused by military activation overseas and other conditions. This section also allows the surviving spouse or domestic partner to have the fees, interest, and penalties waived if their spouse was killed in action.

Section 2: Effective date.

Justification

This bill recognizes that many service members experience serious hardship as a result of activation to duty and service to the country. Often, this hardship results in the foreclosure of the service member's home. They can already redeem this property, but this bill is needed to allow penalties, interests and fees to be waived.

Fiscal implications

None to the State.

Effective date

Immediately.

Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.